“Pocket Listings” are not new in the La Quinta and surrounding areas in the Desert. In case you’ve heard of “pocket listings”
but not sure what they are, they are homes which have been listed with a
real estate agent/REALTOR®, but not submitted to the Multiple Listing
Service.Pocket listings are legal and a home owner can request their home to be a pocket listing, but is it in your best interest as a seller? The decision is totally up to you and what you think is in your best interest, but there are things you may want to think about before asking to have your home put in the “pocket”.
Your home will be restricted from the “public” access of the entire local multiple listing service. Your home may be unknown to other real estate companies and agents. If a potential buyer would search for your home on the internet (over 90% home searches start on the internet), your home may not show up unless it is on your agent’s website. In other words, not all willing and able buyers will see that your home is now on the market. You may not get the best possible price for you home, if it is not publically viewed.
However, according to CNNMoney, many high-end sellers would rather have more privacy when their home is on the market. And with the tight supply of home inventory, initial listings could create a frenzy of craziness.
There may be another reason you may want to list your home as a pocket listing - Test the real estate market because you may not REALLY be ready to sell.
Though the National Association of REALTORS® do not have an official policy on pocket listings, many of the legal and ethical rules and regulations are in place to protect the public.
If you’d like more information whether to have your home as a pocket listing or regular listing, call me at 760-567-7282 and we can discuss all the scenarios that are in your best interest in selling your home.
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